Federal Register #2026-20056

SEC request to extend Rule 10c-1a securities-lending information collections

The Securities and Exchange Commission (SEC) is seeking Office of Management and Budget (OMB) approval to extend Rule 10c-1a information collections; this is a regulatory notice, not a procurement opportunity. - Government entities and organizations - Government agency: Securities and Exchange Commission (SEC); the notice does not identify a specific SEC office or sub-agency. - OMB is asked to approve the extension of the information collections. - FINRA is identified as the only registered national securities association (RNSA) currently operating. - Requirements under Rule 10c-1a - Covered persons, directly or through reporting agents, report specified information about covered securities loans to an RNSA. - The RNSA collects the data, assigns unique identifiers, publicly disseminates certain loan information, and retains and makes information available as required. - The stated purpose is to improve transparency and price discovery in securities lending and reduce information gaps. - Estimated initial annual information-collection burdens - Covered persons that provide information: 259,000 hours for systems development and monitoring. - Covered persons that do not provide information: 121,000 hours for systems development and monitoring, plus 2,420 hours for written agreements with reporting agents. - Reporting agents: 128,000 hours for systems development and monitoring; 1,280 hours for written agreements with non-providing covered persons; and 42 hours for agreements with an RNSA. - RNSA: 3,641 annualized hours for infrastructure development. - Estimated ongoing annual information-collection burdens - Covered persons that provide information: 349,650 hours. - Covered persons that do not provide information: 163,350 hours for systems development and monitoring. - Reporting agents: 172,800 hours for systems development and monitoring and 6,656 hours for record preservation. - RNSA: 7,739.5 hours for infrastructure and compliance and 52 hours for information retention. - No products, quantities, part numbers, or services are being solicited.

Description

The Securities and Exchange Commission is seeking approval from the Office of Management and Budget to extend the previously approved information collections under Rule 10c-1a. The rule requires covered persons to report specified data about securities loans to a registered national securities association, and requires the association to collect and publicly disseminate certain information. The notice describes the estimated information-collection burdens for covered persons, reporting agents, and registered national securities associations. Comments are requested within 30 days after publication, by November 2, 2026.

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